FINRA Disciplinary Actions June 2021

Table of Contents

WILLIAM EDWARDS ELLIS (CRD #6770635, WESTLAKE, TEXAS)

May 25, 2021 – An AWC was issued in which Ellis was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Ellis consented to the sanction and to the entry of findings that he refused to provide on-the-record testimony as requested by FINRA during the course of an investigation. The findings stated that Ellis was being investigated for allegations that he has purchased call options using insider knowledge. (FINRA Case #2020065914202)

WILFREDO FELIX JR. (CRD #2693672, NEW YORK, NEW YORK)

May 26, 2021 – An OHO decision became final in which Felix was barred from association with any FINRA member in all capacities. The sanction was based on findings that Felix failed to comply with requests issued by FINRA for additional information regarding an investigation. The findings stated that Felix was originally under investigation for allegations that he misclassified personal expenses as business expenses in his member firm’s books and records. (FINRA Case #2018058286901)

JEFFREY WARREN (CRD #2707969, BOCA RATON, FLORIDA)

May 28, 2021 – An AWC was issued in which Warren was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Warren consented to the sanction and to the entry of findings that he refused to provide information and documents requested by FINRA during the course of an investigation. The findings stated that Warren was under investigation for accepting a potentially inappropriate gift from a client prior to that client’s death. (FINRA Case #2021070775901)

NICHOLAS RICHARD PALUMBO (CRD #1069948, ARMONK, NEW YORK)

June 2, 2021 – An AWC was issued in which Palumbo was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Palumbo consented to the sanction and to the entry of findings that he refused to provide information and documents requested by FINRA during the course of an investigation. The findings stated that Palumbo was under investigation for allegations made in a U5 filed by his former member firm that he engaged in unapproved private securities transactions and outside business activities. (FINRA Case #2020066651001)

RICHARD WAYNE DEMETRIOU (CRD #828433, ADDISON, TEXAS)

June 2, 2021 – An NAC decision was made final in which Demetriou was barred from association with any FINRA member in all capacities. The NAC found that Demetriou made material misrepresentations to customers regarding many investments. The findings stated that he alleged that a certain investment would generate returns of more than 1000%, even after clients had experienced losses, leading clients to invest and lose more than $337,700. Demetriou engaged in unapproved outside business activities with the owner of this investment, as well. (FINRA Case #2013035345701)

LOUIS PAUL KREISBERG (CRD #1352881, BRENTWOOD, TENNESSEE)

June 3, 2021 – An AWC was issued in which Kreisberg was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Kreisberg consented to the sanction and to the entry of findings that he refused to provide information and documents requested by FINRA during the course of an investigation. The findings stated that Kreisberg was under investigation for potential undisclosed private securities transactions. (FINRA Case #2019064980201)

CYNTHIA KOMAREK (CRD #1188714, BARRINGTON, ILLINOIS)

June 4, 2021 – An AWC was issued in which Komarek was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Komarek consented to the sanction and to the entry of findings that she refused to provide information and documents requested by FINRA during the course of an investigation. The findings stated that Komarek was under investigation for a U5 from her former member firm which alleged she admitted making referrals to an outside asset manager without the firm’s approval. (FINRA Case #2020067641402)

GRANT CHRISTOPHER BIRKLEY (CRD #2933533, BARRINGTON, ILLINOIS)

June 4, 2021 – An AWC was issued in which Birkley was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Birkley consented to the sanction and to the entry of findings that he refused to provide information and documents requested by FINRA during the course of an investigation. The findings stated that Birkley was under investigation for a U5 filed by his former member firm that alleged he admitted making referrals to an outside asset manager without the firm’s approval. (FINRA Case #2020067641401)

MARIO EVERILDO RIVERO JR. (CRD #5856503, FORT MILL, SOUTH CAROLINA)

June 4, 2021 – An AWC was issued in which Rivero was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Rivero consented to the sanction and to the entry of findings that he refused to provide information and documents requested by FINRA during the course of an investigation. The findings stated that Rivero was under investigation for allegations of misrepresentations by two former customers. (FINRA Case #2021070775901)

SALVATORE PIZZIMENTI (CRD #2879580, NEW YORK, NEW YORK)

June 11, 2021 – An AWC was issued in which Pizzimenti was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Pizzimenti consented to the sanction and to the entry of findings that he refused to provide on-the-record testimony requested by FINRA during the course of an investigation. The findings stated that Rivero was under investigation for allegations that he was performing unapproved trading of customer accounts. (FINRA Case #2019060753501)

MARC ROMEYN LIPPMAN (CRD #1575995, WASHINGTON, D.C.)

June 17, 2021 – An AWC was issued in which Lippman was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Lippman consented to the sanction and to the entry of findings that he provided false information during on-the-record testimony requested by FINRA during the course of an investigation. The findings stated that Lippman lied about whether he knew a customer was deceased when he proceeded to make trades on their account, thereby both providing false testimony and performing unauthorized trades. (FINRA Case #2021071514101)

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